The passage of the Secure Act 2.0 has introduced a range of changes aimed at making retirement planning more accessible and streamlined for Americans. For small businesses, these updates present both opportunities and challenges, particularly when it comes to 401k plans. This blog will explore the key changes brought about by the Secure Act 2.0, […]
Missing critical compliance deadlines can be stressful, especially for small business owners juggling multiple responsibilities. One such important task is filing Form 5500, which is crucial for maintaining the compliance of your 401(k) or other employee benefit plans. If you have missed Form 5500 filing, this guide will walk you through the steps to mitigate […]
For small business owners, retirement planning often brings up a lot of questions, especially for those who have set up an owner-only or solo 401(k) plan. While these plans offer unique advantages, there are specific filing requirements and compliance rules that must be met to maintain their benefits. Missteps in filing can lead to penalties, […]
In the world of retirement savings, there are many options available to individuals looking to secure their financial future. One popular choice among employers and employees alike is the Safe Harbor 401(k) plan. This type of retirement savings plan offers some unique benefits and incentives that set it apart from traditional 401(k) plans. In this […]
Employer-sponsored retirement plans, such as 401(k) plans, require careful administration to ensure compliance with regulations and smooth operation. Two key roles in the management of 401(k) plans are the Plan Administrator and the Third-Party Administrator (TPA). In this blog post, we will explore the responsibilities of these two positions and clarify the difference between them. […]
